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Dmitry_Shevchenko [17]
3 years ago
10

Consider the market for minivans (Some would describe a minivan as a family car). Looking at the two statements, which one is tr

ue and which one is false? Then again, are they both true or both false? Statement 1: People decide to have fewer children. The demand curve for minivans will shift to the right. Statement 2: The stock market crashes lowering people’s wealth (Hint: Minivan would be considered a normal good). The demand curve for minivans will shift to the right.
Business
1 answer:
Allushta [10]3 years ago
7 0

Answer:

both statements are false

Explanation:

if People decide to have fewer children, there would be less demand for minivans as a result the demand curve would shift to the left.

also, if The stock market crashes lowering people’s wealth and minivans are normal goods, the demand for minivans would fall and the demand curve would shift to the left.

A leftward shift signifies a fall in demand while a rightward shift signals a rise in demand

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

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Andrew Industries purchased $165,000 of raw materials on account during the month of March. The beginning Raw Materials Inventor
Y_Kistochka [10]

Answer:

d. $141,000

Explanation:

As the following information is given

Purchase of raw material = $165,000

Beginning Raw material balance = $22,000

Completed direct material = $141,000

Completed indirect material = $13,000

Since the work in progress includes only direct material i.e $141,000 as indirect material is allocated to the overhead account. Therefore, only $141,000 of raw material is transferred to work in process account

So other information which is mentioned is ignored

3 0
3 years ago
The amount of the outstanding checks is included on the bank reconciliation as a(n) deduction from the balance per company's rec
Sphinxa [80]

Answer:

D) deduction from the balance per bank statement

Explanation:

A bank reconciliation statement is a document that matches the cash balance on a company’s balance sheet to the corresponding amount on its bank statement. Reconciling the two accounts helps determine if accounting changes are needed. Bank reconciliations are completed at regular intervals to ensure that the company’s cash records are correct. They also help detect fraud and any cash manipulations.

7 0
3 years ago
Amy has a card shop. She receives a shipment of Valentine's Day cards in December 2011 made by a card manufacture in that month.
Firdavs [7]

Answer:

The contributions of these transactions is a reduction to GDP by $500 in 2011 and an increase in GDP by $800 in 2012.

Explanation:

GDP is the abbreviation for gross domestic product which is the monetary value of all finished products (goods and services) made within a country during a specific period (usually a year). In the determination of a country's GDP, imports are subtracted while exports or sales are added.

Therefore considering that Amy received a shipment of Valentine's Day cards in December 2011 paying a total of $500 and sold all the cards for a total of $800 in February 2012, the contributions of these transactions is a reduction to GDP by $500 in 2011 and an increase in GDP by $800 in 2012.

6 0
3 years ago
A replacement analysis is most objectively conducted from the viewpoint of:
mixer [17]
From the viewpoint of an outsider, an non-owner and an consultant which is a replacement analysis is most objectively conducted. When you are conducting a replacement analysis the most objectively conducted is from the view point of the three which is from an outsider, an consultant and an non-owner.
6 0
3 years ago
Riverrun Co. provides medical care and insurance benefits to its retirees. In the current year, Riverrun agrees to pay $13,500 f
gtnhenbr [62]

Answer:

Dr. Employee Benefits expense                    $22,700

Cr. Medical Insurance payable                      $13,500

Cr. Employee retirement program payable  $9,200

Explanation:

The cost of fringe benefit provided to the employee of the company and any tax component attached to it is known as the employee benefit expense.

Total employee benefit expense is the sum of medical insurance and employee retirement program. As medical insurance and retirement program is payable until now so, it is recorded as a liability.

Employee benefit expense = $13,500 + $9,200 = $22,700

3 0
2 years ago
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